Form Mv-3 - Motor Vehicle Verification Of Fair Market Value By The Issuing Agent Page 2
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1
2GENERAL INFORMATION
This form is to be used to verify the Fair Market Value* of passenger vehicles, trucks with a registered weight of 11,000 lbs. and under,
motorcycles and recreational vehicles (motorhome) manufactured during the past 15 model years when:
The purchase price listed on Forms MV-1, MV-4ST and MV-217A is less than 80% of the average Fair Market Value
(Example: Determine the Fair Market Value of the vehicle from a PennDOT approved publication and take that amount times 80%
(.80)); or,
The vehicle is over 15 years old and the purchase price is less than $500; or
The vehicle is not listed in a PennDOT approved publication.
The issuing agent must determine the Fair Market Value by using the average retail value dollar amount listed in any of the following
PennDOT approved publications: N.A.D.A., The Automobile Red Book, The Black Book Official Used Car Guide, American Used Car
Guide and/or the Kelley Blue Book Used Car Guide. NOTE: Both the N.A.D.A. and The Automobile Red Book publish guides for
motorcycles and other specific motor vehicle types. Kelley Blue Book also publishes a guide for recreational vehicles.
It is acceptable for an agent to use an online Fair Market Value Pricing and Information Guide from one of the approved PennDOT
publications to determine Fair Market Value. The agent must retain a print-out of the online page in their files.
NOTE TO PURCHASER: An additional audit of this vehicle sale by the Department of Revenue may occur. Please retain copies of
this form, your cancelled check or original cash receipt, and your receipt from the seller of this vehicle, along with either your copy
of the Application for Certificate of Title (MV-1), the Vehicle Sales and Use Tax Return/Application for Registration (MV-4ST) or the
Application by Financial Institutions for Certificate of Title After Default by Owner (MV-217A).
EXCEPTIONS
This form is not required for:
1. A new vehicle being sold to the first retail customer
2. Reconstructed/Recovered Theft/Specially Constructed vehicles
3. Flood vehicles
4. Formerly police/taxi vehicles
5. Lease buyouts by lessee
6. Vehicles transferred in conjunction with death procedures (including vehicles sold by the estate, executor, or administrator) -
Form MV-39 or Short Form Certificate is required.
7. Trailers, including travel trailers and recreation vehicle travel trailers.
PROCEDURES
1.
The issuing agent must complete all information in Sections A, including the purchase price of the vehicle, B and C using the informa-
tion listed on the attached Form MV-1, MV-4ST or MV-217A.
NOTE: The issuing agent must list the average Fair Market Value for the correct vehicle model listed on the certificate of title
application from a PennDOT approved publication in the space provided in Section B. If the approved PennDOT publication the
dealer/agent is using contains differentiation for high or low mileage, the issuing agent is required to add or deduct the value, if any, for
the mileage verified from the odometer statement. The issuing agent is not to add or to deduct for specific options, such as, air
conditioning, etc. Name of publication used to determine value must be listed in the space provided.
2.
In Section C, individuals should list their PA Driver’s License (PA DL) or Photo ID# in the space provided. Businesses should list their
Business ID# (Bus. ID) where indicated (i.e. E.I.N.).
3.
Section D must be completed by the motor vehicle purchaser or the vehicle seller.
4.
The motor vehicle seller’s and purchaser’s signatures must be signed and notarized in Sections E and F. Only the purchaser’s
signature is required for vehicles purchased out-of-state and not the signature of the out-of-state seller.
NOTE: When the motor vehicle purchaser or seller refuses to complete Sections D, E and F, the issuing agent must refuse to complete
the transaction for the customer. The incomplete title application should not be submitted to the Department for processing. Section E
is not required to be completed for vehicles purchased out-of-state.
5.
The completed form must be submitted to the Bureau of Motor Vehicles along with the MV-1, MV-4ST or MV-217A. NOTE: In lieu of
this application, when a motor vehicle is purchased at a public auction, the auction agent may attach a copy of the block ticket, signed
by both the auctioneer or its clerk, and the applicant to the completed MV-1, MV-4ST or MV-217A. The block ticket must contain both
the reference guide Fair Market Value and the actual purchase price.
In addition, when a motor vehicle is purchased from a licensed dealer, the issuing agent may accept a copy of the bill of sale signed by
both the dealer or its licensed sales person and the applicant who completed MV-1, MV-4ST or MV-217A, instead of Form MV-3,
provided that the bill of sale contains both the approved appraisal guide’s stated Fair Market Value of the motor vehicle and the actual
purchase price. The copy of the bill of sale should then be forwarded to PennDOT along with the appropriate title application.
ISSUING AGENT WARNING: Section 1318(e) of the Pennsylvania Vehicle Code states, “any person who violates this Section, in addition
to any penalty, suspension or revocation imposed by the Department commits a summary offense and shall, upon conviction, be sentenced
to pay a fine of not less than $100 nor more than $500 and for each subsequent or additional offense a fine of not less than $200 nor more
than $500, or to imprisonment for not more than 90 days,or both”.
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